We recently published a list of 10 Best Canadian Gold Stocks to Buy Now. In this article, we are going to take a look at where Alamos Gold Inc. (NYSE:AGI) stands against other best Canadian gold stocks to buy now.

Gold remains a trusted store of value during economic uncertainty. Due to global inflation, geopolitical tensions, and central bank demand, the appeal of gold is surging to new highs. According to Fortune Business Insights, the global gold market, worth $291.68 billion in 2024, is projected to reach $457.91 billion by 2032, growing at a CAGR of 5.8%. Reuters reported that this price surge has attracted investors, with spot gold hitting a record $2,936.38 per ounce and U.S. futures reaching $2,956.10.

Investor interest remains high as gold-backed ETFs saw a 26% jump in 2024, their best performance since 2010. Additionally, central bank demand is expected to exceed the 500-ton long-term average in 2025, further supporting prices, though any purchasing slowdown could pose risks.

Macroeconomic factors also affect gold’s future as the U.S. recently imposed a 25% tariff on Mexican and Canadian imports, along with additional duties on Chinese goods, sparking inflation worries. While automakers received temporary exemptions, market uncertainty persists. According to a Reuters survey, investors are watching the upcoming U.S. non-farm payrolls report, which could affect Federal Reserve policy and gold prices.

On the supply side, global gold production held steady at about 3,300 metric tons in 2024, with China, Russia, Australia, and Canada as the top producers. Meanwhile, the recycled gold supply rose 11% to 1,370 tons, reflecting increased market liquidity. With China and India accounting for over 60% of annual gold consumption, the countries remain crucial market influencers in 2025.

However, global gold trade patterns are shifting from their traditional eastward flow to meet China’s and India’s demands. Gold shipments are now being redirected to the U.S. as Asian retail demand weakens. Reuters reported that bullion banks are capitalizing on Comex futures rather than premium spot prices by redirecting gold supplies to the U.S. Furthermore, U.S. gold inventories have jumped nearly 80% since late 2024, with increased imports from London, Switzerland, and Asian markets, cementing America’s key role in the global market.

Additionally, technological innovation is reshaping the gold industry. Advances in bio-leaching, cyanide-free processing, and nanotechnology are boosting extraction efficiency and sustainability, promising lower environmental impact and positioning the sector for long-term growth.

Entering 2025, the U.S. gold market continues to be shaped by inflation, geopolitical uncertainties, changing trade policies, and technological advances. Amid these shifting market dynamics, gold remains a vital asset for those seeking security and growth potential.

Methodology

To compile our list of the 10 Best Canadian Gold Stocks according to hedge funds, we used the Finviz stock screener to find the 30 largest Canadian companies that are involved in the production, extraction, processing, or sale of gold. We then used Insider Monkey’s Hedge Fund database to rank those stocks according to the number of hedge fund holders as of Q4 2024. Finally, we picked ten stocks with the highest number of hedge fund holders. The list is sorted in ascending order of hedge fund sentiment.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Alamos Gold Inc. (NYSE:AGI)

Number of Hedge Fund Holders: 31

Alamos Gold Inc. (NYSE:AGI) is a major gold producer that operates across Canada, Mexico, and the U.S. The company has earned its reputation through gold deposit exploration and development, with key assets in Island Gold, Young-Davidson, Mulatos District, and Magino.

Alamos Gold Inc. (NYSE:AGI) hit a milestone in 2024 with record gold production of 567,000 ounces, which was a 7% increase over the prior year. This growth came largely from the integration of the newly acquired Magino mine (purchased from Argonaut Gold) and strong output from the Mulatos District and Island Gold. The company’s Q4 production in 2024 reached 140,200 ounces, meeting quarterly targets.

Due to this strong performance, annual revenue jumped 32% to $1.3 billion, with gold sales of 560,234 ounces at an average price of $2,379 per ounce. Q4 2024 revenue rose 48% year-over-year to $375.8 million, aided by higher gold prices, which averaged $2,632 per ounce.

Furthermore, Alamos Gold Inc. (NYSE:AGI) commenced construction of the Lynn Lake project in early 2025, with initial production expected in 2028. Once operational, the project is expected to increase annual output to 900,000 ounces, further improving cost efficiency.

In 2025, production is expected to be between 580,000 and 630,000 ounces. The Phase 3+ Expansion at Island Gold is set to be completed by mid-2026 and should boost production by 24% by 2027 while cutting costs. Alamos Gold Inc. (NYSE:AGI) remains one of the best Canadian stocks, with strategic growth plans and solid financial results.

Overall, AGI ranks 5th on our list of best Canadian gold stocks to buy now. While we acknowledge the potential of AGI, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AGI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.